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Norway's Det norske makes uncommercial oil find in Arctic

Reuters - UK Focus

OSLO, Feb 21 (Reuters) - Norwegian energy firm Det norske made an oil discovery in the Langlitinden prospect in the Arctic Barents sea but the find is probably not commercial, it said on Friday.

"Based on preliminary analysis, Det norske is of the opinion that the volumes proven in this well, as of today, are insufficient to justify a field development," Det norske said in a statement.

Det norske operates the licence and holds a 20 percent stake. Other shareholders include Sweden's Lundin Petroleum (Other OTC: LNDNF - news) (20 percent), Tullow (15 percent), Rocksource (Oslo: RGT.OL - news) (5 percent), Norwegian state holding firm Petoro (30 percent) and Atlantic Petroleum (Oslo: ATLA.OL - news) (10 percent)*.